The Dogecoin market is demonstrating significant growth with a 30% increase under the control of bulls. This market shift indicates a possible rise in investor interest in buying rather than selling DOGE.
Dogecoin Market Growth
Recently, there has been an uptick in bullish activity in the Dogecoin market, with bulls controlling 30%. This suggests heightened investor interest in purchasing DOGE.
Analysis of Large Holders
Currently, 62% of Dogecoin is held by large holders. This could lead to significant price swings if these investors decide to sell or buy large amounts. Additionally, 74% of all Dogecoin holders remain profitable at the current prices, which may encourage them to hold onto their assets.
Volume of Large Transactions
Over the past 24 hours, more than 5.07 billion large transactions of DOGE have been made. This is slightly lower than the seven-day high of 8.64 billion DOGE but close to the seven-day low of 4.57 billion DOGE. The total number of large transactions over the last day was 827, indicating continued substantial trading activity.
The rise in the Dogecoin market and significant activity from large holders and transactions suggest the cryptocurrency’s positive trend may continue. However, investors should remain cautious and consider other market metrics.
Comments